Syracuse (WSYR-TV) – Question:
What do I do if the bank I bought my life insurance policy from is no longer around? Answer:
In some cases, the company that acquired the provider may be of assistance.
For example, NewsChannel 9 viewer Linda purchased a life insurance policy through Onondaga Savings Bank in 1975, but that bank no longer exists.
According to wealth management advisor Peter Derrenbacker, Linda has a few options.
First, she can talk to the people at M&T Bank, which acquired OnBank, formerly known as Onondaga Savings Bank.
Next, if the policy was purchased through Savings Bank Life Insurance, she can request information through their website, SavingsBankLifeInsurance.net.
Finally, if the policy is still in effect, Linda should receive either a premium notice or an annual policy statement. Either one of those documents should contain a phone number that she can call for further details.
If you have a question for the Your Stories team, you can call us anytime at (315) 446-9900 or email YourStories@9wsyr.com